For Information: As described in the Notes to the Consolidated Financial Statements, Borealis sold its divesting Fertilizers, Melamine and Technical Nitrogen Products business unit (Borealis NITRO). This has resulted in the “discontinued operation” classification in the Consolidated Financial Statements. Accordingly, turnover, capital expenditure and operating expenditure, do not include the nitrogen business unit (except Rosier Group as this is not part of the Fertilizers, Melamine and TEN divestment process). All non-financial information for the reporting period 2023 includes Borealis Fertilizers, Melamine and TEN (NITRO) for the first half of 2023. The figures are, therefore, not fully comparable.
Borealis’ net profit plunged from a record high of EUR 2,111 million in 2022 to EUR 168 million in 2023. This drop must be considered in the context of current market challenges which affect all petrochemical companies as well as the one-off positive effects specific to the Borealis Group that contributed to the outstanding results obtained in 2022.
In 2023, Borealis net debt decreased to EUR -152 million. This resulted in a gearing ratio of -2% at the end of 2023, compared to -1% at the end of 2022. This gearing reflects a very strong balance sheet. Borealis also benefits from a well-diversified financing portfolio and a balanced maturity profile.
For Information: All non-financial information for the reporting period 2023 includes Borealis Fertilizers, Melamine and TEN (NITRO) for the first half of 2023. The figures are, therefore, not fully comparable.
In 2023, Borealis AG and its subsidiaries (the Company or Group) reported a Total Recordable Injuries (TRI) rate per million working hours of 4.0, a marked deterioration compared to the rate of 2.9 obtained in 2022.
In line with the Group’s commitment to “Zero Harm,” Borealis aims to further improve its safety record by eliminating accidents and safety incidents altogether. One key effort is “B-Safe,” a proactive risk management program implemented in 2022 and currently being rolled out across the entire Group.
1) Includes own employees and contractors // 2) Definitions were adjusted in 2022 to be aligned with OMV definitions. A comparison to previous years is therefore not possible.
EU Emission Trading Scheme (ETS) CO2 emissions: All greenhouse gas emissions (GHG) as per the European ETS expressed in CO2 equivalents (since 2009 this indicator has replaced the reporting of direct carbon dioxide emissions).
Primary energy consumption: Consumption of all energy vectors (i.e. fuels, electricity and steam). Electricity and steam are converted into primary energy with standard conversion factors of 40% (electricity) and 90% (steam).
1) Severe upsets led to significant emergency flaring during shutdowns; furthermore, there was a lack of recycling capacity.
Flaring losses: All streams sent to the flare, except streams that assure a constant flame (e.g. fuel gases to pilot burners, fuel gas purges to flare lines for safety reasons, steam, nitrogen).
Waste generation: Generation of all waste at company locations during normal operation as well as during special projects. Any substance or object that is to be discarded is included in the definition of waste. Exceptions are atmospheric emissions, liquid effluents and by-products with commercial value.
Water withdrawal: Total amount of fresh water withdrawn from surface or groundwater sources for any type of usage (e.g. cooling, steam generation, cleaning, sanitation).
